One of the sports world’s most prominent businessmen may finally enter the world of team ownership.
Nike co-founder Phil Knight and Los Angeles Dodgers co-owner Alan Smolinisky have put in an offer to buy the Portland Trail Blazers for over $2 billion, per Adrian Wojnarowski.
The team is currently owned by a trust in the name of former Microsoft co-founder Paul Allen, who died in October 2018.
Wojnarowski believes Knight’s ownership would keep the Blazers in Portland long-term; there was speculation the team could move to Seattle, but NBA owners reportedly prefer expansion for the city.
Knight has long been known for his donations to his alma maters, the University of Oregon and Stanford University, but this is his first personal foray into the professional sports world.
Nike’s eight-year, $1 billion apparel deal with the NBA runs through the 2024-25 season.
